SF Giants, Hunter Pence settle for $13.8 million

You can expect to see a lot of contract agreements announced in baseball today, the date for teams and arbitration-eligible players to exchange the figures they would submit to the arbitration panels.

The Giants got their biggest dollar case done before that exchange would have taken place, agreeing this morning to a one-year, $13.8 million deal with outfielder Hunter Pence.

I have this image in my head of Pence standing face to face with GM Brian Sabean, a crazy look in his wide eyes, yelling, “I love this team. I’m not ready to go somewhere else. Give me the money! Give me the money!”

Actually, Pence couldn’t have gone elsewhere. He is not a free agent until this season is done. The only question was his salary for 2013, and his $13.8 million deal seems about right, maybe a bit north of the midpoint between his 2012 salary ($10.4 million) and what he could have expected to earn in arbitration.

The Giants also settled with reliever Jose Mijares on a one-year, $1.8 million deal (first reported by MLB Trade Rumors).

Their four remaining arbitration-eligible players without a contract are Buster Posey, Sergio Romo, Gregor Blanco and Joaquin Arias.

Posey’s case is interesting. As I reported earlier this week, the Giants are open to a exploring a multiyear megadeal with Posey to buy out all his arbitration years and maybe some free-agent years. But those talks can take time. In the interim, they could reach a one-year agreement to avoid arbitration then fold his 2013 salary into a longer-term deal cobbled later.

I’ll report on the salary figures that are exchanged as I get them. Hearings don’t begin until February, so there’s still plenty of time to reach agreements beforehand. The vast majority of arbitration-eligible players sign before they ever get into the courtroom.

Addendum: Jon Heyman of CBSsports.com reports the Giants and Blanco have settled at $1.3 million.